Kansas Tax Collections in March Close to Hitting Estimates
staff - April 2, 2016 6:03 am
TOPEKA, Kan. (AP) – Kansas is reporting that its tax collections came close to hitting projections in March, falling short by less than $2 million.
The report Friday from the Department of Revenue said the state collected almost $447.8 million in taxes last month, when it expected to take in $449.4 million. The shortfall was about four-tenths of 1 percent.
Sales and insurance premium taxes exceeded expectations.
But since the fiscal year began in July 2015, the state still has collected 1.9 percent less in taxes than anticipated. The $4.13 billion collected is about $81 million less than expected.
The department’s report came ahead of an April 20 meeting of state officials and university economists to revise the state’s revenue projections. Tax collections have fallen short of expectations 11 of the past 12 months.